Wednesday, April 06, 2005

Nonprofit Abuses

The Chronical of Philanthropy reported that abuses by charities and donors may be costing the taxpayer about $15-billion a year in lost revenue, Internal Revenue Service commissioner Mark W. Everson told a Senate committee. Everson made these remarks at the Senate Finance Committee hearing. As a result of the testimony of Everson and others, members of Congress plan to introduce legislation aimed at reducing these abuses. The hearing discussed nonprofits that pay excessive salaries to their executives; individuals who they say defraud our tax system by using charities as a facade to assist in paying their personal expenses; and people who write off phony amounts for in-kind gifts

1 Comments:

At April 11, 2005, Anonymous Anonymous said...

It is about time. There are too many nonprofits asking for too much money.

 

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